President schneider gives up in power struggle at 1860 munich

President schneider gives up in power struggle at 1860 munich

Schneider announced this decision to media representatives in munich. The "lowen" boss, who has been in office since february 2011, said he lacked the "indispensable" trust of all the association’s bodies for further "long-term management" of the association. "The issue of appointments to the board of directors has now reached a level that is damaging to the already tarnished image of the club," schneider said in a statement.

Schneider had deduced from a decision, once again postponed by the supervisory board, about the latter’s desired composition of the future presidium that the trust in him "is not present to the extent that is necessary for a prosperous cooperation".

Supervisory board chairman otto steiner expressed respect and regret for schneider’s move. The club is losing a candidate with a "high reputation, maximum commitment and full identification," said steiner. Schneider had "successfully steered the club through perilous waters and earned high, indisputable merits" during his tenure, the club said in a statement.

The supervisory board intends to submit a proposal for the replacement of the president in the coming week. Steiner is expected to present the results of the internal consultations to the public on thursday, according to the second division club.

Until a successor is elected, schneider wants to remain at the helm of the traditional club. The election of the new president will probably not take place before may, an association spokesman said. According to the club’s statutes, the supervisory board appoints the president, who then proposes his two deputies. SPD politician franz maget and wolfgang hauner currently serve as vice-presidents.

At the beginning of his term of office in february 2011, schneider played a major role in ensuring that the german champion of 1966 did not go bankrupt. The decisive factor, however, was the more than 20 million euros that investor ismaik has now invested in the club. In return, the jordanian received 49 percent of the shares in the club. Differences between ismaik and schneider continued to arise after the joint rescue operation. The jordanian had openly demanded schneider’s resignation several times in the recent past, but the president had so far refused to do so.

Schneider thanked ismaik on thursday for his financial commitment. "Without him, we would have had to file for insolvency in spring 2011," the outgoing president said about the jordanian. At the same time, however, the president also rejected "the mar" according to which the club’s management had "at some point rejected money from mr. Ismaik for a more offensive strategy" in the promotion plan: "there were never any such offers on his part," schneider explained.

Club and investor had drawn up a three-year plan for the return to the bundesliga before the current season. The lowen are currently seventh in the table, six points behind third place, which entitles them to two relegation matches.

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